It might be time to start paying attention to the NIFTY indices (the 50 closed at 11,474.45) for portfolio investments and at Foreign Direct Investment for clues to industries and themes.
From the former Soviets at RT:
Saudi Arabia is eyeing long-term investment in India’s key sectors such as petrochemicals, infrastructure and mining, citing the country’s growth potential and the need to diversify the Arab nation’s own economy.
“India is an attractive investment destination for Saudi Arabia and it is eyeing long-term partnerships with New Delhi in key sectors,” Saudi Ambassador Dr Saud bin Mohammed Al Sati said in an interview with India’s PTI news agency on Sunday.....MORE
Saudi Arabia, the world’s top oil exporter and a key energy supplier providing India with some 17 percent of its crude oil and 32 percent of its LPG, said it is looking at making investments in India “potentially worth $100 billion.” Saudi money will be poured into India’s energy, refining, petrochemicals, infrastructure, agriculture, minerals and mining sectors, Al Sati said.
According to the envoy, Saudi Arabia’s state-run oil giant Aramco will partner up with India’s Reliance Industries Ltd, a step he said reflected the strategic nature of the energy ties between the two states.
“Saudi Aramco’s proposed investments in India’s energy sector, such as the $44 billion West Coast refinery and petrochemical project in Maharashtra, and long-term partnership with Reliance, represent strategic milestones in our bilateral relationship,” the ambassador said....
